US Lawmaker Calls for SEC Investigation into Truth API for Potential Securities Law Violations

U.S. Congressman Ritchie Torres has requested that the Securities and Exchange Commission (SEC) investigate whether the upcoming Truth API from Truth Social's parent company, Trump Media & Technology Group (TMTG), violates federal securities laws. He also urged the SEC to assess whether it involves issues of market manipulation, investor protection, and conflicts of interest. The Truth API is set to launch on August 1, providing paying customers with real-time access to public posts from popular Truth Social accounts, with licensing fees reaching up to $100,000 per month.

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